The Ukrainian government has just legalized cryptocurrency. The country’s president has signed into law a bill that legalizes the digital currency sector in the Eastern European nation that is currently at war with Russia. This decision comes at a time when the country has already received over $100 million in crypto donations from people and groups from all over the world to support its war effort. Blockchain development is beneficial to cryptocurrency investors. So, if you are planning to trade or mine Bitcoin, then you may visit bitcoinup.
What Does the Law Mean?
President Volodymyr Zelenskyy signed the bill that was passed by the country’s parliament last month. The law lays down the conditions for the creation of a legal market for digital assets within Ukraine.
- The National Commission on Securities and Stock Market and the National Bank of Ukraine has become the financial regulators for the crypto sector
- Ukrainian banks can now open accounts for cryptocurrency firms
- Every altcoin or other crypto-related companies handling digital assets will have to register with the authority
- Crypto holdings of citizens will be protected under the same legal terms as the national fiat currency
Both Ukrainian and foreign crypto exchanges can now run legally in the country once they are registered.